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Monday, March 2, 2015

ODNR Releases 4th Quarter 2014 Utica Shale Results

From an ODNR news release:
During the fourth quarter of 2014, Ohio’s horizontal shale wells produced 3,558,836 barrels of oil and 164,815,008 Mcf (164 billion cubic feet) of natural gas, according to figures released today by the Ohio Department of Natural Resources (ODNR). Oil increased by more than 545,000 barrels and gas by more than 33 billion cubic feet compared to the third quarter of 2014. By comparison, 352 horizontal shale wells in the fourth quarter of 2013 produced 1,439,209 barrels of oil and 43,124,516 Mcf (43 billion cubic feet) of natural gas. 
Comparing the last two years in Ohio, there has been a 200 percent increase in oil production and a 350 percent increase in gas production. 
The new report lists 828 wells, 779 of which reported production, resulting in a 15 percent increase in wells for the fourth quarter. Forty-seven wells reported no production as they are waiting on pipeline infrastructure. Of the 779 wells reporting production results: 
- The average amount of oil produced was 4,568 barrels. 
- The average amount of gas produced was 211,573 Mcf. 
- The average number of days in production was 80. 
All horizontal production reports can be accessed at:
oilandgas.ohiodnr.gov/production 
Ohio law does not require the separate reporting of Natural Gas Liquids (NGL). Gas reporting totals listed on the report include NGLs.
We will share more details and breakdowns of this data later today.

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